According to the latest report by IMARC Group, titled "Electrical Tape Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028," the global electrical tape market size reached US$ 13.2 Billion in 2022. Electrical tape is an insulating tape designed to cover exposed electric wires, cables, and other materials. It is manufactured from stretchable vinyl or polyvinyl chloride (PVC) materials with a non-corrosive rubber-based adhesive. It is pressure sensitive in nature and stops electrical current from accidentally passing to other wires, which could create a short or even start an electrical fire. It is resistant to abrasion and provides protection against moisture and can be manipulated to fit in tight spaces and around oddly shaped materials. As it prevents possible electrocution if the live wires are touched, the demand for electrical tape is increasing around the world.
Global Electrical Tape Market Trends:
At present, the rising demand for electrical tape, as it is durable and resistant to ultraviolet (UV) rays, represents one of the primary factors supporting the growth of the market. Besides this, the increasing utilization of electrical tape in covering engine compartments, spark plugs, and safety systems is propelling the growth of the market. In addition, the growing modernization of existing electricity grids is offering a favorable market outlook. Apart from this, the rising demand for electric vehicles (EVs), as they reduce the consumption of fossil fuels and emissions of vehicular exhausts in the air, is contributing to the growth of the market. Additionally, the increasing purchase of consumer electronics products is bolstering the growth of the market. On account of the aforementioned factors, the market is anticipated to reach a value of US$ 17.5 Billion by 2028, exhibiting a CAGR of 4.60% during 2023-2028.
- On the basis of the material, the market has been segregated into PVC tapes, glass cloth tapes, PET tapes, and others. Presently, PVC tapes account for the largest market share.
- Based on the application, the market has been classified into electrical and electronics, aerospace, industrial, and others. At present, electrical and electronics hold the biggest share in the market.
- Region-wise, the market has been divided into North America (the United States and Canada); Europe (Germany, France, the United Kingdom, Italy, Spain, and others); Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others); Latin America (Brazil, Mexico, and others); and the Middle East and Africa. Amongst these, Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others) enjoys the leading position in the market.
- The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market. Some of the key players include 3M Company, A&G Manufacturing Co. Inc., Denka Company Limited, Electro Tape Specialties Inc., HellermannTyton (Aptiv PLC), Intertape Polymer Group Inc., Nitto Denko Corporation, Parafix Tapes & Conversions Ltd., Plymouth Rubber Europa S.A., PPM Industries UK Ltd. (PPM Industries SpA), ProTapes & Specialties Inc. (Shurtape Technologies LLC), Scapa Industrial, and tesa SE (Beiersdorf AG).
|Base Year of the Analysis
||PVC Tapes, Glass Cloth Tapes, PET Tapes, Others
||Electrical and Electronics, Aerospace, Industrial, Others
|| Asia Pacific, Europe, North America, Latin America, Middle East and Africa
||United States, Canada, Germany, France, United Kingdom, Italy, Spain, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
||3M Company, A&G Manufacturing Co. Inc., Denka Company Limited, Electro Tape Specialties Inc., HellermannTyton (Aptiv PLC), Intertape Polymer Group Inc., Nitto Denko Corporation, Parafix Tapes & Conversions Ltd., Plymouth Rubber Europa S.A., PPM Industries UK Ltd. (PPM Industries SpA), ProTapes & Specialties Inc. (Shurtape Technologies LLC), Scapa Industrial, tesa SE (Beiersdorf AG), etc.
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